(“the Hirer”) with equipment and services I/we, the undersigned HEREBY COVENANT with BSF Mobile Cranes as follows:
1. I/We guarantee to BSF Mobile Cranes the due payment by the Hirer for all such equipment and services as BSF Mobile Cranes may from time to time supply or agree to supply to the Hirer and any interest, fees and costs identified in clause 4 hereof, and acknowledge that my/our liability under this Guarantee will be unlimited and I/we will pay BSF Mobile Cranes when demanded in writing a sum equal to the amount payable by the Hirer as aforesaid plus interest in accordance with clause 3 hereof.
2. If BSF Mobile Cranes is unable to recover any monies owed to it by the Hirer or from me/us as surety for any reason, I/we will indemnify and keep indemnified BSF Mobile Cranes in respect thereof and all damages, costs, losses and expenses that BSF Mobile Cranes may suffer or incur as a result thereof and notwithstanding that the Hirer may be wound up or subject to external administration under Chapter 5 of the Corporations Act 2001 (or any statutory modification or re-enactment thereof or any statutory provision substituted therefor) or that this Guarantee may be unenforceable.
3. I/We will pay BSF Mobile Cranes interest on all monies payable by me/us to BSF Mobile Cranes under this Guarantee at the rate of interest applicable in respect of the equipment and services to the Hirer under BSF Mobile Cranes’ Terms and Conditions.
4. This Guarantee will be a continuing guarantee to BSF Mobile Cranes for the whole of the Hirer's indebtedness or liability to BSF Mobile Cranes in respect of equipment and services supplied or to be supplied to the Hirer as aforesaid, including interest on overdue accounts, debt recovery fees paid to a collection agency and legal costs on a solicitor and own client basis and disbursements of any attempt or attempts to recover payment from the Hirer or any guarantor hereunder including the costs of lodging and withdrawing caveats.
5. This Guarantee will bind me/us despite any change in BSF Mobile Cranes’ Terms and Conditions; any other trading terms with the Hirer and the grant of any time or indulgence to the Hirer, without prior notification to me/us, and this Guarantee will be enforceable without requiring BSF Mobile Cranes to first take any steps or proceedings against the Hirer.
6. To secure the payment of all monies owing to BSF Mobile Cranes by the Hirer and/or by me/us hereunder I/we hereby charge with the due payment thereof all my/our right, title, estate and interest in any real property which I/we own, both present and future, wherever located. I/We hereby appoint as my/our duly constituted attorney BSF Mobile Cranes’ Company Secretary from time to time to execute in my/our name and as my/our act and deed (even though I/we may not have defaulted in carrying out my/our obligations hereunder) any real property mortgage, caveat or consent to any caveat BSF Mobile Cranes may choose to register or lodge against my/our title to any real property in any State or Territory of Australia and I/we will indemnify and keep indemnified such attorney from and against all damages, costs, losses and expenses which such attorney may suffer or incur as a result of the exercise of the powers herein contained.
7. I/We acknowledge that I/we have read the completed Credit Account Application signed by the Hirer and BSF Mobile Cranes’ Terms and Conditions.
8. This Guarantee may be revoked as to future transactions by giving BSF Mobile Cranes 28 days prior written notice at its registered office, subject to such revocation not taking effect until such time as BSF Mobile Cranes acknowledges receipt of the revocation.
9. If any provision of this Guarantee is unenforceable in accordance with its terms, other provisions which are self-sustaining are, and continue to be, enforceable in accordance with their terms.
10. This Guarantee is governed by the laws of the State of Queensland and all disputes arising between BSF Mobile Cranes and me/us will be submitted to the Brisbane Registry of any such court as is competent to hear the matter.
11. Where this Guarantee is given by more than one person, the obligations herein contained take effect as joint and several obligations. No guarantor will be released from liability under this Guarantee by reason of any other guarantor not executing this Guarantee or this Guarantee ceasing to be binding as a continuing security on any other guarantor and the release of any guarantor from this Guarantee will not affect the liability of the other guarantor.
IMPORTANT: By signing this Deed you will become liable for the debts and other obligations of a third party. Please read this Deed carefully before you sign it. If you cannot understand it you should seek independent legal advice.